Trilogy Metals Inc. — Director's Dealing 2017

Dec 9, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Trilogy Metals Inc. (TMQ)
CIK: 0001543418
Period of Report: 2017-12-07

Reporting Person: Sanders Elaine (VP and CFO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-12-07	Employee Stock Option (right to buy)	$0.7864	A	300000	Acquired	2022-12-06	Common Stock (300000)	Direct
2017-12-07	Restricted Stock Units	$	A	100000	Acquired		Common Stock (100000)	Direct
2017-12-07	Restricted Stock Units	$	A	100000	Acquired		Common Stock (100000)	Direct

Footnotes

F1: These shares can be exercised at a price of CAD$1.01 per share. For reporting purposes, the exercise price has been converted to US dollars based on the exchange rate reported by the Bank of Canada for the date of grant, which was US$1 = CAD$1.2843.

F2: The stock options vest in three equal installments on December 7, 2017, December 7, 2018 and December 7, 2019.

F3: Each restricted stock unit represents a contingent right to receive one share of TMQ common stock. The conversion price of the underlying common shares as of the December 7, 2017 vesting date was Cdn $0.96.

F4: The restricted stock units vest on December 7, 2017.

F5: The restricted stock units vest in three equal installments on December 7, 2017, December 7, 2018 and December 7, 2019.